Importance

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Abstract

A bank loan trading system and method is provided to utilize an electronic facility to facilitate the trading of bank loans. Sellers and buyers enter offers and bids that are posted to all potential buyers and sellers, unless the orders are undisclosed. It is determined whether there is a match between one of the bids and one of the offers of the same loan. If an order can be filled, the system and method provide various confirmation techniques to ensure that a resultant trade does not violate the terms of the bank loan itself. If an order can be filled partially and the remaining portion of the order may be filled in part or in full, the party entering the initial partial order is given the choice of entering into the second trade. Buyers and sellers also can enter linked orders representing two different orders for the same loan and upon filling one of the linked orders, the other order is canceled.

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First Claim